Bankruptcy Blogs

Oncor Buyout Approved by Texas Regulators

03/25/16
This photo shows transformers that are ready to ship at Oncor’s staging area in Lancaster, Texas, on Thursday, Dec. 5, 2013. Texas regulators recently approved a buyout of Oncor.
Kye R.
[more]

Women in Banking: Bakhshi, Alemany, Mooney All Make Headlines

03/24/16

Nandita Bakhshi and Ellen Alemany discuss strategy; Beth Mooney strikes a deal; a Lehman Sister recounts her experience as a woman at the top of Wall Street in its doomsday; and HSBC sets a goal to have equal gender representation in certain areas by 2020. Plus, some interesting research on equal pay for women, and good grief, Raymond Moore.

[more]

Lessons for Puerto Rico from ... Arkansas?

03/24/16

I did not realize that a US state had defaulted on its bonds, offering a historical comparative example of the difficulties facing Puerto Rico, its creditors, and mostly its citizens if the mess there is not subjected to an orderly, judicially supervised debt cleanup process of some kind. In a new working paper from the Cleveland Fed, O.

[more]

Landlords Beware: Lease Terminations May Be Voidable In Bankruptcy

03/24/16

The Seventh Circuit Court of Appeals recently handed down a decision with significant implications for landlords contemplating lease termination agreements with distressed tenants. Ruling on a direct appeal in the chapter 11 case In re Great Lakes Quick Lube LP, the court held that a lease termination agreement between a landlord and a financially distressed tenant can be voided as either a fraudulent conveyance or a preferential transfer in the tenant’s subsequent bankruptcy case.

[more]

Answers to These Four Questions Will Determine Online Lenders' Fate

03/24/16

Favorable economic factors wonÂ't last forever for lending startups. Here are the factors that will make or break nonbank lenders when market conditions get rockier.

[more]

Morning Scan: Credit Suisse CEO Blindsided; A CIT Comeback?

03/24/16

Editor's note: Morning Scan will not publish on Friday, March 25 in observance of Good Friday. We'll be back on Monday, March 28. Receiving Wide Coverage ...

Blindsided: Credit Suisse chief executive Tidjane Thiam has said neither he nor his CFO were aware of the size of the bank's "positions in risky, illiquid segments," following a bad first quarter for trading that saw revenues fall 40%-45% (analysts' expectations were revenues would decline 37%). Apparently staff had concealed...

[more]

A Story of Student Loan Hell

03/24/16
Occasionally I receive emails from people who have read the blog wanting to share their stories or objecting to what I wrote about their case.    They are a poignant reminder that the legal issues we deal with affect real people.   When I write about a case, I am writing about the facts as found by the Court.   The story that comes out of the official court record may be very different from how the individuals involved saw it.   Today I received an email from a woman who offered to share her story about her 30 year
[more]

Emerald Oil Has a Suitor: Brian Kennedy’s Latium Group

03/24/16
SPENCER PLATT/GETTY IMAGES

Emerald Oil Inc., which filed for chapter 11 protection earlier this week, has an interested suitor: rugby club owner and businessman Brian Kennedy’s Latium Group.

[more]

Puerto Rico: Further Supreme Court Thoughts

03/23/16

So Noah Feldman has a column up on Bloomberg that suggests that section 903(1) of the Code should clearly apply to the Commonwealth. It's a sensible argument, if you read that section entirely in isolation and know nothing about the overall structure of the Bankruptcy Code.

[more]